Cogent Systems, a provider of biometric systems and fingerprint readers, completed its acquisition of Maximus Security Solutions in a $5 million cash purchase.
Maximus Security Solutions provides identity management and credentialing services, security consulting, and Web application development, including logical and physical access integration with Department of Defense (DoD) Common Access Card (CAC) and Personal Identity Verification (PIV) cards.
The acquisition is expected to contribute about $5 million in revenue to Cogent Systems for the remainder of 2008 and enhance the company’s ability to provide ID systems integration services to federal civilian agencies and military departments, state and local governments, and international customers.
“We expect this acquisition to enable us to enter the growing identity management and credentialing integration business with a wide range of established customers, strong personnel and a steady revenue stream,” says Ming Hsieh, president and CEO of Cogent.
Maximus Security Solutions is a division of Maximus Inc., a Reston, Va.-based provider of program management, consulting and information technology solutions. Its government clientele includes the DoD, the U.S. Department of Veteran Affairs, the Federal Deposit Insurance Corporation (FDIC) and NASA.
